Unused Facility definition

Unused Facility means the amount, calculated daily, by which the Commitment exceeds the sum of the outstanding principal amount of the Loans.

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Unused Facility means the amount, calculated daily, by which the Revolving Credit Commitments exceed the sum of (i) the outstanding principal amount of the Committed Loans, plus (ii) the outstanding Reimbursement Obligations, plus (iii) the aggregate undrawn face amount of all outstanding Letters of Credit.

Unused Facility means the amount, calculated daily, by --------------- which the Revolving Credit Commitments exceed the sum of (i) the outstanding principal amount of the Loans, plus (ii) the outstanding Reimbursement Obligations, plus (iii) the aggregate undrawn face amount of all outstanding Letters of Credit.

Examples of Unused Facility in a sentence

The Borrowers shall pay to the Administrative Agent for the account of each Revolving Credit Lender in accordance with its Applicable Revolving Credit Percentage, a fee (the “Unused Fee”) equal to the Unused Fee Rate times the Unused Facility Amount.
Further, the Unused Facility Fee shall be paid quarterly in arrears, on the first day of the months of January, April, July and October, for each preceding calendar quarter.
Unused Facility Fee payments which cover less than one (1) month shall be prorated based on the actual number of days elapsed.
Borrower will pay the Unused Facility Fee on the last day of each calendar quarter; such fee will be non-refundable and fully earned when paid.
The Unused Facility Fee shall be calculated on the basis of a 360-day year and the actual number of days elapsed.
The Unused Facility Fee shall be calculated monthly in arrears and shall be fully earned upon becoming due and payable.
Any accrued but unpaid Unused Facility Fees shall also be due and payable on the Expiration Date.
The Unused Facility Fee shall be calculated on the last day of each fiscal quarter and shall be due and payable on the fifth day after the end of each fiscal quarter.
The Unused Facility Fee shall accrue at all times on and following the Closing Date so long as the Revolving Credit Commitments are outstanding, including at any time during which one or more of the conditions in Section 4.02 is not met, and shall be due and payable monthly in arrears on the first day of each calendar month, commencing with the first such date to occur after the Closing Date, and on the Maturity Date.
The Unused Facility Fee will be calculated and will accrue at the rate per annum of fifteen one-hundredths of one percent (.15%).

More Definitions of Unused Facility

Unused Facility means an amount equal to the Committed Line then in effect less the aggregate amount of Advances outstanding under the Revolving Facility and the Non-Revolving Sublimit and any other deductions from the Committed Line as provided in the Agreement. EXHIBIT B LOAN PAYMENT/ADVANCE REQUEST FORM DEADLINE FOR SAME DAY PROCESSING IS 10:00 A.M., E.T. TO: and DATE: FAX #: and TIME: FROM: CLIENT NAME (BORROWER) REQUESTED BY: AUTHORIZED SIGNATURE: PHONE NUMBER: FROM BANK OF AMERICA ACCT # TO ACCOUNT # FROM WACHOVIA ACCT # TO ACCOUNT # FROM RBC CENTURA ACCT # TO ACCOUNT # CHECK ONE: ?Revolving Facility ?Non-Revolving Sublimit REQUESTED TRANSACTION TYPE REQUEST DOLLAR AMOUNT Bank of America Wachovia Bank RBC Centura Bank PRINCIPAL INCREASE (ADVANCE) $ $ $ PRINCIPAL PAYMENT (ONLY) $ $ $ INTEREST PAYMENT (ONLY) $ $ $ PRINCIPAL AND INTEREST (PAYMENT) $ $ $ OTHER INSTRUCTIONS: All representations and warranties of Borrower stated in the Loan and Security Agreement are true, correct and complete in all respects as of the date of this Loan Payment/Advance Request; provided, however, that those representations and warranties expressly referring to another date shall be true, correct and complete as of such date. BANK USE ONLY

Unused Facility means, as of any date of determination, the lesser of (i) the Maximum Cumulative Draw Allowed for such day and (ii) the most recently determined Contract Loan Value. DEBTOR MASERGY COMMUNICATIONS, INC. SECURED PARTY: COMERICA BANK EXHIBIT B COLLATERAL DESCRIPTION ATTACHMENT TO LOAN AND SECURITY AGREEMENT All personal property of Borrower (herein referred to as “Borrower” or “Debtor”) whether presently existing or hereafter created or acquired, and wherever located, including, but not limited to: (a) all accounts (including health-care-insurance receivables), chattel paper (including tangible and electronic chattel paper), deposit accounts, documents (including negotiable documents), equipment (including all accessions and additions thereto), general intangibles (including payment intangibles and software), goods (including fixtures), instruments (including promissory notes), inventory (including all goods held for sale or lease or to be furnished under a contract of service, and including returns and repossessions), investment property (including securities and securities entitlements), letter of credit rights, money, and all of Debtor’s books and records with respect to any of the foregoing, and the computers and equipment containing said books and records; and (b) any and all cash proceeds and/or noncash proceeds of any of the foregoing, including, without limitation, insurance proceeds, and all supporting obligations and the security therefor or for any right to payment. All terms above have the meanings given to them in the California Uniform Commercial Code, as amended or supplemented from time to time. Notwithstanding the foregoing, the Collateral shall not include any copyrights, patents, trademarks, servicemarks and applications therefor, now owned or hereafter acquired, or any claims for damages by way of any past, present and future infringement of any of the foregoing (collectively, the “Intellectual Property”); provided, however, that the Collateral shall include all accounts and general intangibles that consist of rights to payment from the sale, licensing or disposition of all or any part of, or rights in, the Intellectual Property (the “Rights to Payment”). Notwithstanding the foregoing, if a judicial authority (including a U.S. Bankruptcy Court) holds that a security interest in the underlying Intellectual Property is necessary to have a security interest in the Rights to Payment, then the Collateral shall automatically, and effective as of...

Unused Facility means, on any date, the amount of the Facility less the amount of all outstanding Advances on such date.

Unused Facility means at any time, the Revolving Credit Facility in effect at such time, less the sum of the aggregate outstanding principal amount of Revolving Credit Loans and the Letter of Credit Obligations, at such time. Wholly Owned Subsidiary when used to determine the relationship of a Subsidiary to a Person means a Subsidiary all of the issued and outstanding shares (other than directors' qualifying shares) of the capital stock of which shall at the time be owned by such Person or one or more of such Person's Wholly Owned Subsidiaries or by such Person and one or more of such Person's Wholly Owned Subsidiaries.

Unused Facility means, at any time, the Revolving Credit Facility in effect at such time LESS the sum at such time of (i) the aggregate outstanding principal amount of the Revolving Credit Loan and (ii) the Letter of Credit Reserve.

Unused Facility means, as of the date of any determination of Unused Facility, the Facility less the aggregate principal amount of all Loans then outstanding.